Dhaka, Bangladesh (BBN) – Bangladesh’s stocks suffered a big jolt last week that ended on Thursday with turnover remaining sluggish as selling frenzy continued to mar the investors’ confidence.
The market witnessed five trading sessions as usual. Of them, three sessions saw significant losses while two sessions saw marginal gains.
The benchmark index of the Dhaka Stock Exchange (DSE), came down below the 4,700-mark to settle the week at three months low to 4,676.63, slumping 104.73 points or 2.19 percent.
The DS30 index, comprising blue chips, plunged 49.50 points or 2.73 percent to finish at 1,766.50. The DSE Shariah Index fell 34.89 points or 3.03 percent to end the week at 1,114.84.
The port city bourse Chittagong Stock Exchange (CSE) also saw sharp fall with its Selective Categories Index – CSCX – plunging 201.5 points or 2.26 percent to end at 8,711.71.
The total turnover for the week stood at BDT 19.18 billion against BDT 18.94 billion in the week before.
The daily turnover averaged BDT 3.83 billion, which was 1.22 percent lower than the previous week’s average of BDT 3.79 billion.
“Stock faltered heavily closing the week below 4,700-mark as selling frenzy continued to mar the investors’ confidence,’ said LankaBangla Securities, a stockbroker, in its weekly market analysis.
Losers outpaced gainers as out of 326 issues traded, 253 closed lower, 58 advanced while 15 remained unchanged on the DSE trading floor during the week.
Beximco Pharma remained the week’s top turnover leader for the second week with shares of Tk 1.13 billion changing hands during the week followed by Lafarge Surma Cement, Mozaffar Hossain Spinning Mills, Brac Bank and newly listed KDS Accessories.
Alltex Industries was the week’s best performer, posting a rise of 10.92 per cent while Matin Spinning was the week’s worst loser, plunging by 14.07 per cent.